Stock market gains N4.08tn as NGX index rises 3.84%

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Stock market investors gained N4.08tn at the close of trading this week.

The NGX All-Share Index and Market Capitalization appreciated by 3.84% to close the week at 171,727.49 and N110.235 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Insurance index which depreciated by 2.33%.

Seventy-one (71) equities appreciated in price during the week, higher than forty-four (44) equities in the previous week. Thirty-five (35) equities depreciated in price, lower than forty-nine (49) equities in the previous week, while forty-two (42) equities remained unchanged, lower than fifty-five (55) recorded in the previous week.

A total turnover of 3.860 billion shares worth N128.581 billion in 240,463 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.087 billion shares valued at N81.505 billion that exchanged hands last week in 222,185 deals.

Figures obtained by Dailyeconomy showed that the Financial Services Industry (measured by volume) led the activity chart with 2.188 billion shares valued at N50.459 billion traded in 94,005 deals; thus contributing 56.68% and 39.24% to the total equity turnover volume and value respectively. The Services Industry followed with 466.771 million shares worth N4.495 billion in 18,526 deals.

Third place was the ICT Industry, with a turnover of 377.800 million shares worth N9.049 billion in 25,653 deals.

Trading in the top three equities, namely Chams Holding Company Plc, Access Holdings Plc and Universal Insurance Plc (measured by volume), accounted for 664.942 million shares worth N6.801 billion in 15,161 deals, contributing 17.23% and 5.29% to the total equity turnover volume and value respectively.